Civil and Commercial Law Theory and Economic Analysis

Author: (Taiwan) Wang Wenyu
Publisher:
Publish Date: 2002-02-01
Features: Legal and economic analysis theory is a new interdisciplinary field that integrates law and economics. It began to emerge in the 1930s in the United States and gradually developed into an important area of legal research in the U.S. It not only remains confined to academic discussions but has also been further implemented in the reasoning of U.S. court judgments. The theories of economics are vast and profound, and not all topics discussed in economics may be suitable for application in law. However, due to the fundamental assumptions of rational self-interest and rational choice in economics, which align with the study of law as a discipline that must explore the effects of norms on human behavior, applying economic analysis theories to law has yielded results that differ significantly from the traditional approach of legal interpretation in the civil law system, which follows the route of legal reasoning through subsumption and syllogism.